Bill Title: Amends the Property Tax Code. Provides that, for the purposes of the definition of 33 1/3%, the fair cash value of property is determined by the lesser of: (1) the Department of Revenue's sales ratio studies for the 3 most recent years preceding the assessment year; or (2) the valuation of the property in the prior year (under the current law, the fair cash value is based on the sales ratio studies).

Sponsorship: Partisan Bill (Republican 8)

Status: (Failed) 2013-01-08 - Session Sine Die [HB5049 Detail]

Text: Latest bill text (Introduced) [HTML]

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